Best Business Credit Cards in 2022
It’s common knowledge to business owners that all the penny counts. So, it’s essential to ensure you’re banking with the relevant financial institutions. One that understands your business goals and is ready to help you achieve them. To actualize these goals, credit cards are your best strategy.
They can offer prizes such as loyalty bonuses, cash-back, travel points, and financial tools for tracking your expenses. However, to find the best business card, you must first identify the factors that matter most to your business. Then pinpoint the card issuer that can help you maximize your funds.
Business Credit Cards: Best Offers
To ensure you arrive at the most suitable offer, we’ve curated a list of the best business credit cards you can find online. Each option has been researched and verified to provide the key features every entrepreneur seeks. We considered essential features like welcome bonuses, reward rates, annual fees, and hidden fees.
However, the demands, factors, and requirements of every business differ. So it’s left to you to decide which of these items is best for you. Check out the list below to identify which business credit cards suits your business model most.
|Rewards||Welcome Offer||Annual Fee|
|Capital One Spark Cash Plus||A 2% cash-back on all your purchases. 5% on hotels and car rentals when you book via Capital One Travel.||Get $1,000 cash. So users get a $500 reward for spending up to $5,000 in the first three months. Another $500 when they spend up to $50,000 in the first six months.||$150|
|Ink Business Unlimited® Credit Card||Unlimited 1.5% cashback when you make a business purchase||Get a $900 cash bonus for spending up to $6,000 in your first three months of signing up||$0|
|Ink Business Cash® Credit Card||5% cash-back available on the first $25,000 you spend at office supply stores, cable, internet, telecom, etc. 2% available on the first $25,000 on gas and dining. 1% on all others.||$900 cash-back bonus when you spend up to $6,000 in the first 3 months of signing up||$0|
|American Express Blue Business Cash™ Card||2% cash-back on every business purchase (on the first $50,000 purchase in a year). 1% on purchases after.||Get up to $250 if you meet the $3,000 quota on eligible purchases in the first 3 months.||$0|
|The Business Platinum Card® from American Express||5 reward points for every dollar you spend on flights and hotels booked via Amex Travel. 1.5 points on business purchases. 1 point on every dollar for all other payments||Get 120,000 Membership Reward points when you spend up to $15,000 on eligible payments in your first three months of signing up.||$695|
|Capital One Spark Miles for Business||Earn 2 miles on every purchase you make with the card.||$0 annual fee for the first year. Get a 50,000 miles (the equivalent of $500 travel funds) bonus when you spend up to $4,500 on your net purchases in the first three months.||$95|
|The Blue Business® Plus Credit Card from American Express||Get up to 15,000 membership reward bonus points if you meet the $3,000 quota on eligible payments in the first three months.||$0|
|Capital on Tap Card||1.5% cash-back on all purchases.||$1,200 cashback bonus for spending up to $50,000 within the first 6 months of signing up. $200 for spending $15,000 in the first 3 months.||$0|
|The Hilton Honors American Express Business Card||12x Hilton Honors points for every dollar spent on eligible purchases. 12x for booking hotels or resorts with Hilton. 6x for shipping, U.S. gas stations, telecoms, etc.||Get 130,000 Hilton Honors Bonus points when your net purchases with the card reach $5,000 within the first 3 months. Free Night when you spend up to $10,000 in the first 6 months.||$95|
|Marriott Bonvoy Business® American Express® Card||75,000 points when you spend up to $3,000 in your first 3 months of getting the card.||6x points at Marriott Bonvoy portfolio hotels. 4x for dining, telecom, gas, etc.|| $125
Capital One Spark Cash Plus
This card is one of the best options for entrepreneurs. It charges a $150 annual fee but offers exceptional services. You can get decent prizes and a yearly bonus of $200.
Rewards: A 2% cash-back on all your purchases. 5% on hotels and car rentals when you book via Capital One Travel.
Welcome Offer: Get $1,000 cash. So users get a $500 reward for spending up to $5,000 in the first three months. Another $500 when they spend up to $50,000 in the first six months.
Annual Fee: $150
- Cash-back prizes on both primary and employee cards.
- Multiple bonuses.
- Doesn’t charge foreign transaction fees.
- Users must repay the balance every month.
- Has high annual fees.
Capital One Spark Cash Plus is a good card for business. It combines multiple prizes with quality customer service. This card also helps you avoid foreign transaction fees when you travel.
Ink Business Unlimited® Credit Card
Suppose you’re an entrepreneur and prefer to focus on your business. At the same time, the bank manages your credit card rewards. In that case, this is your best option. This card helps you keep it simple with zero maintenance fee and unlimited rewards.
Rewards: Unlimited 1.5% cashback when you make a business purchase
Welcome Offer: Get a $900 cash bonus for spending up to $6,000 in your first three months of signing up
Annual Fee: $0
- Charges zero yearly fees.
- Unlimited rewards.
- Impressive welcome bonus.
- Offers an Intro APR period.
- Doesn’t categorize bonuses.
- Foreign transaction fees are charged.
The card is perfect for small commercial organizations. The card even allows you to streamline your prizes and get all the value a typical credit card offers. It allows you to easily keep track of your bonus categories as well.
Ink Business Cash® Credit Card
Thanks to its $0 annual fee, you can save some funds with this card. It rewards users with a welcome bonus of $900. It’s one of the best cards for any depending on office supplies and telecom services.
Rewards: 5% cash-back available on the first $25,000 you spend at office supply stores, cable, internet, telecom, etc. 2% available on the first $25,000 on gas and dining. 1% on all others.
Welcome Offer: $900 cash-back bonus when you spend up to $6,000 in the first 3 months of signing up
Annual Fee: $0
- Doesn’t charge annual fees.
- Has Intro APR period.
- New members get a welcome bonus.
- Good or excellent credit is required.
- Bonus prizes have spending caps.
This credit card provides lucrative bonuses for entrepreneurs. It allows you to earn a lot of the top bonus categories. It will also give you fantastic signup bonuses as a new cardholder.
American Express Blue Business Cash™ Card
The American Express Blue Business Cash is an impressive flat-rate reward card. It’s perfect for side hustlers and small businesses. This card offers a 0% introductory APR period and offers double points on various spending.
Rewards: 2% cash-back on every business purchase (on the first $50,000 purchase in a year). 1% on purchases after.
Welcome Offer: Get up to $250 if you meet the $3,000 quota on eligible purchases in the first 3 months.
Annual Fee: $0
- Cardholders won’t pay a yearly fee.
- Offer huge prizes.
- Allows transfer partner.
- Get Intro APR for a certain period.
- Bonus prizes have spending caps.
- Charges 2.7% fee on foreign transaction.
This can’t is a good bargain for small businesses. It offers flat-rate prizes and charges no fee annually.
The Business Platinum Card® from American Express
This credit card is a good recommendation for anyone who doesn’t mind spending much to maintain it. It charges $695 annually but provides generous prizes when you travel.
Rewards: 5 reward points for every dollar you spend on flights and hotels booked via Amex Travel. 1.5 points on business purchases. 1 point on every dollar for all other payments
Welcome Offer: Get 120,000 Membership Reward points when you spend up to $15,000 on eligible payments in your first three months.
Annual Fee: $695
- Multiple bonus categories.
- Premium protection during travels.
- Access the lounge freely.
- Add transfer partners.
- Expensive annual fee.
- Rewards are not flexible.
This card is a top option if you own a small enterprise and travel a lot. It gives incredible prizes and benefits that make its annual charges worthwhile.
Capital One Spark Miles for Business
Capital One Spark Miles is an excellent deal for business. It’s a practical choice if you spend most of your money on travel. But, the card charges a substantial amount annually.
Rewards: Earn 2 miles on every purchase you make with the card.
Welcome Offer: $0 annual fee for the 1st year. Get a 50,000 miles (the equivalent of $500 travel funds) bonus when you spend up to $4,500 on your net purchases in the first three months.
Annual Fee: $95
- High rewards are available.
- Flexible redemption process.
- Charges high annual fee.
- High APRs.
This is the top option for small entrepreneurs who’d love to keep prizes simple. It allows you to manage all your expenses and quickly receive bonuses across multiple categories.
The Blue Business® Plus Credit Card from American Express
This option provides you with many features. This card has great bonus reward and doesn’t charge annual fees. It also allows users to adjust before charging APRs (after a year).
Highlights: 2x points on every business purchase (on the first $50,000 purchase in a year). 1 point on every dollar spent after.
Rewards: Get up to 15,000 membership reward bonus points if you meet the $3,000 quota on eligible payments in the first three months.
Annual Fee: $0
- Zero annual charges.
- Cardholders can have Transfer partners.
- Fair Introductory APR period.
- Impressive reward.
- Spending caps limit bonus rewards.
- Good or excellent credit for approval.
If you’re a fan of high flat-rate, then opt for this option. It has multiple bonuses, though with spending caps.
Capital on Tap Card
Capital On Tap is an industrial-level credit card type that works for many businesses. It combines zero annual fees with incredible bonuses. Cardholders can earn cash-back on multiple purchases.
Rewards: 1.5% cash-back on all purchases.
Welcome Offer: $1,200 cashback bonus for spending up to $50,000 within the first 6 months of signing up. $200 for spending $15,000 in the first 3 months.
Annual Fee: $0
- No annual fee.
- Only do a hard credit check for applications.
- Transfer partners.
- Impressive bonus reward.
- Requires high credit score.
- No bonus category.
If you seek the means to a free service and extra benefits, you should opt for this Capital One Tap card. It’s an ideal option if you spend on various categories.
The Hilton Honors American Express Business Card
As another product from AMEX, it’s not surprising that this card is excellent. It combines a range of premium services at an affordable annual cost. This is a good recommendation for enterprises and middle-sized businesses.
Rewards: 12x Hilton Honors points for every dollar spent on eligible purchases. 12x for booking hotels or resorts with Hilton. 6x for shipping, U.S. gas stations, telecoms, etc.
Welcome Offer: Get 130,000 Hilton Honors Bonus points when your net purchases with the card reach $5,000 within the first 3 months. Free Night when you spend up to $10,000 in the first 6 months.
Annual Fee: $95
- Extensive bonus reward.
- Multiple bonus categories.
- Foreign transaction fees are not charged.
- No intro APRs.
- High annual fee.
Hilton Honors is a product designed for anyone who doesn’t mind paying for excellence. The services are satisfactory. The reward is impressive, and the customer support is top-notch.
Marriott Bonvoy Business® American Express® Card
It offers a nice welcome bonus and VIP privileges at Marriott hotel partners complement its $125 annual charge. There are multiple bonus prizes across many categories available to earn.
Rewards: 75,000 points when you spend up to $3,000 in your first 3 months of getting the card.
Welcome Offer: 6x points at Marriott Bonvoy portfolio hotels. 4x for dining, telecom, gas, etc.
Annual Fee: $125
- Topnotch elite services.
- Amazing reward rates.
- Anniversary privileges.
- Charges a high annual fee.
- Complex reward system.
It’s not bad getting a free night yearly on your card. This option is what cardholders get with this Marriott Bonvoy card. It also offers a wide range of bonuses to offer.
These are simply cards designed for businesses rather than individuals. It allows them to complete transactions using a business account with special privileges compared to regular accounts. They are intended for the company to build its credit profile. It’s an excellent way to improve their future borrowing terms.
These cards are best for purchasing business-related materials such as office supplies or furniture. You can also use these credit cards to avoid foreign transaction fees in some cases. And they often require high annual fees.
How Do Business Credit Cards Work?
A business credit card is like any other credit card. It allows enterprises to register a bank account and access credit when necessary. The card often comes with high annual fees and unique benefits for businesses. It can have a high credit limit and provides less purchase protection.
The ultimate framework of these cards is that they allow companies to behave like individual entities. They can therefore improve their credit history. Companies seeking loans can tender these records to boost their chances.
Business Credit Cards Compared to Personal Credit Cards
These cards are similar to personal cards since they usually require a bank account. However, personal cards allow individuals to access extra money on their accounts. Business cards will enable an enterprise to increase its money reserve.
Depending on the business’s size, there might be different requirements for registration. But business cards generally require a higher credit score than personal cards for approval. Personal cards often require no annual fees, while users tend to pay hefty sums for their great business credit cards.
Another significant difference between the two cards is the reward categories. Business cards tend to provide bonus prizes on telecoms or office supplies. In contrast, personal cards offer groceries, gas, dining, etc.
Types of Business Credit Cards
When signing up for this card, you should first learn existing types exist. Knowing this can help you decide which bank to opt for. That’s because each bank has different offers for different kinds of businesses.
So, the major types of business credit cards depend on the business’s size. You can either sign up for a small enterprise or a corporate credit card. Check out more details about each of these options below.
Small business credit cards are for entrepreneurs and small enterprises. The card is usually an advanced type of personal card. It allows businesses to access extra funds based on their financial situations. These cards have high credit score requirements but are not too high compared to corporate cards.
Small business accounts require an individual to pay the debts, though.
So the entrepreneur is often the one paying all the bills, which is one of the features that distinguish it from corporate cards. Small business cards allow users to access some of the unique privileges of a business account.
Corporate Credit Cards
This type of credit card shares connections with a corporate account. This means it’s only available to businesses with a high revenue volume. So, you need an average of $4 million in revenue or more to sign up for a corporate credit card.
Rather than credit scores, the financial situation and history of the enterprise determine approval. So, many users are often authorized to access the account on behalf of the company. Corporate cards have better prizes compared to small businesses.
Who Should Get a Business Credit Card
The ideal candidate for a credit card is anyone who makes a profit from a side hustle. If you profit from your full-time job, you can apply for a small business card. If you don’t work a job but run a business, you are also qualified for this card.
Your transaction volume depends on whether you get a small business or corporate credit card. Getting a small business card is also a smart idea if you want to separate your expenditure from your commercial transactions. Opting for it can help boost your credit score if that’s your intention.
What You Need to Apply For a Business Credit Card
To successfully get approved when you apply for a business credit card, you must first have an existing business. Most small business cards require 740-850 credit scores before you can get approved.
- Your business’s legal name, location, and contact.
- 21 years or older.
- The type of enterprise or industry you work in.
- The Federal tax identification number (EIN or SSN).
- Number of employees.
- An estimate of the annual revenue, etc.
How Long Does It Take to Get a Business Credit Card?
Credit card issuers can approve your account in days to weeks. However, online applications might get you an approval in just a few minutes or hours. For a business account, issuers are mandated to give you a response in less than 30 days after application.
Once you get your response, you should contact your card soon after. But this depends on which medium (online or physical) you applied with. If you use it online, most banks will mail your card within 7 to 14 days (1-2 weeks).
Pros and Cons of Business Credit Cards
- It’s easier to qualify for a credit card than a loan and credit line.
- It’s fast and easy to boost your credit score.
- Many card issuers offer impressive prizes when you spend.
- You can easily access extra cheques or funds to finance your business.
- It allows you to control employees’ expenditures.
- It’s an excellent way to restrict employees from making personal use of company cards.
- It can help businesses keep track of all company transactions in one place.
- It might be an expensive alternative, especially for small entrepreneurs.
- It could charge additional maintenance fees.
- Doesn’t allow employees to earn independent reward on their cards.
- It might need to offer more purchase protection.
Running a company with a compatible financial service is a smart decision. This can help you scale your business faster and access extensive funds that can contribute to your development. Since enterprises often require steady cash flow to operate, it’s a great way to gain additional rewards from all your office purchases.
Hence, choosing the right bank will help you maximize your cash flow and make additional money through it. Consider all the features we’ve discussed above, and don’t hesitate to research more about each of the options here before you reach your final decision.
- How many business credit cards should I have?
The minimum number of credit cards you should have as an entrepreneur is one. There is no limit on the number of cards you can get, but you should be wary of each application’s hard inquiries.
- What business credit cards report to credit bureaus?
You can boost your credit profile when you have a business account with a bank that reports to a credit bureau. Some of the top options that do this include Chase Ink Business Preferred®, American Express Blue Business Cash™, and Capital One Spark Cash.
- What are business credit cards easy to get?
Most business credit cards are easy to get if you have a top or excellent score. However, some of them also have a simple approval process, which improves your chances. Top recommendations include Ink Business Cash®, Capital One Spark Miles for Business, and others.
- Can I get a credit card in my enterprise name?
Yes, you can get an account in your enterprise name if you own a commercial establishment and can provide relevant documents to verify its identity. Some sole proprietors can even get a business account in their name.
- What’s the difference between a credit card and a business credit card?
A credit card is a type of bank card that allows you to access extra funds when you run out of cash. It can be a personal credit card or a business credit card. A business credit card is what businesses get when they apply for credit cards.